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| Thursday, 27 February 2014, 08:00 HKT/SGT | |
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Source: Omnicare | |
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Cincinnati, Feb 27, 2014 - (ACN Newswire) - Omnicare, Inc. (NYSE: OCR) today announced it has partnered with Inland Empire Health Plan (IEHP) to provide Medication Therapy Management (MTM) services for the plan's members who reside in long-term care (LTC) facilities. Omnicare currently provides an MTM solution for WellCare Health Plans as well as several other health plans.
The Affordable Care Act requires prescription drug plan sponsors to offer MTM services to eligible plan members that include, at a minimum, an annual Comprehensive Medication Review (CMR) that must be furnished person-to-person or using telehealth technologies. The CMR must include a review of the plan member's medications, which may result in the creation of a medication action plan with a written or printed summary of the results of the review provided to the targeted plan member. Beginning January 1, 2013, CMRs were offered to all eligible members including enrollees in LTC settings.
"We are pleased to enter into this clinical partnership with Inland Empire Health Plan on behalf of its beneficiaries," said Dr. Gary Erwin, Omnicare Senior Vice President of Clinical Services. "As the healthcare reimbursement environment becomes more outcomes-based, Omnicare is uniquely positioned to collaborate with Medicare Part D plans to provide MTM and other clinical consultative services designed to enhance the quality of care for the senior population."
CMS creates plan ratings, based on performance measures that indicate the quality of Medicare plans on a five-star rating system with five stars being the highest rating. CMS also uses display measures, which are not included in the plan ratings, to facilitate quality improvement by the plans. The percent of MTM enrollees who received a CMR will be utilized by CMS as a display measure to validate MTM data.
"Omnicare's clinical pharmacists have unparalleled insight into geriatric care, supported by a comprehensive understanding of beneficiary clinical status, existing treatment goals and care plans," continues Dr. Erwin. "As the Centers for Medicare and Medicaid Services (CMS) expand eligibility in 2015, Omnicare is poised to further leverage its clinical capabilities to the benefit of health plans, and most importantly, patients."
As part of its MTM service offering, Omnicare ensures completion of CMRs in concordance with CMS regulations; conducts monthly follow-up medication reviews on members receiving a previous CMR; and delivers data elements of services rendered in formats necessary to produce the annual MTM CMS report including detailed member level activities to support CMS data elements as requested. Omnicare's CMR completion rates have exceeded 90% in beneficiaries that reside in LTC facilities serviced by Omnicare - driving quality measures and elevating CMS ratings.
About Omnicare
Omnicare, Inc., a Fortune 500 company based in Cincinnati, Ohio, provides comprehensive pharmaceutical services to patients and providers across the United States. As the market-leader in professional pharmacy, related consulting and data management services for skilled nursing, assisted living and other chronic care institutions, Omnicare leverages its unparalleled clinical insight into the geriatric market along with some of the industry's most innovative technological capabilities to the benefit of its long-term care customers. Omnicare also provides key commercialization services for the bio-pharmaceutical industry through its Specialty Care Group. For more information, visit http://www.omnicare.com.
About Inland Empire Health Plan
Organized as a Joint Powers Agency, Inland Empire Health Plan (IEHP) is a local, not-for-profit, public health plan that serves over 700,000 residents of Riverside and San Bernardino, California counties through government-sponsored programs including Medi-Cal (families, adults, seniors and people with disabilities), Healthy Kids, and a Medicare Advantage Special Needs Program. For more information, visit www.iehp.org.
Contact:
Patrick C. Lee
+1-513-719-1507
patrick.lee@omnicare.com
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Omnicare via Globenewswire
Topic: General Announcement
Source: Omnicare
https://www.acnnewswire.com
From the Asia Corporate News Network
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